Upon application of the holders of any coupon bonds heretofore issued or hereafter to be issued by the State of Oklahoma, the right to exchange which is not expressed on the face of such bonds, and upon the surrender of such bonds at the office of the State Treasurer, he, the State Treasurer or an appointed agent as provided in the Registered Public Obligations Act of Oklahoma,¹ is hereby authorized to issue to and in the name of such holders, registered bonds of the State of Oklahoma of like tenor, maturity and amount in one or more certificates of the denomination of One Thousand Dollars ($1,000.00), or any multiple thereof, equal to the face value of the coupon bonds surrendered, and the coupon bonds so surrendered, and the coupons attached thereto, shall be canceled by the State Treasurer immediately upon being surrendered to him. Sections 111 through 117 of this title shall be construed in light of the provisions of the Registered Public Obligations Act of Oklahoma and nothing in Sections 111 through 117 of this title shall be construed to prohibit options available under the Registered Public Obligations Act of Oklahoma.